News

Tommy Bahama implements Medallia customer experience software

BY Dan Berthiaume

Seattle – Tommy Bahama has selected customer experience management (CEM) software from Medallia to help better understand and improve customer experience. Using Medallia¹s real-time CEM software, Tommy Bahama will build the vendor’s “Voice of the Customer (VoC)” customer feedback and reporting program into its operations to improve customer experience and drive loyalty.

In the initial stages, Tommy Bahama will use Medallia¹s CEM software to capture experience data from customers who buy in retail stores, at outlet locations, and through in-store kiosks. The system integrates this data with data from its POS system and ultimately sends it to all employees in real time. Closed-loop alerting will also enable Tommy Bahama associates to immediately reach out to guests who want to be contacted.

“We are always looking for ways to improve on how we create experiences that our guests will love,” said Michael Barrow, VP of retail for Tommy Bahama. “We chose to work with Medallia as their software enables our guests to easily and quickly provide us with feedback about their needs and wants. By proactively embedding the Voice of the Customer inside our business, we can directly take action on the issues and services that are most important to our guests and to us.”

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News

Ugam unveils new pricing engine

BY Dan Berthiaume

New York – Analytics solutions provider Ugam is enhancing its pricing intelligence solution with a new pricing engine that delivers real-time, on-demand pricing data for millions of products. The pricing engine monitors online retail prices and consumer signals, and combines that information with proprietary and third-party data to enable retailers to dynamically price items.

“It’s critical for retailers to have real-time data in order to make timely pricing decisions that make an impact on their business,” said Ugam CTO, Sridhar Sharma. “If price data isn’t current, retailers may be perceived as not being competitive, which can be especially damaging on high-volume traffic days like Black Friday. Ugam is the only company delivering real-time pricing intelligence. Our competitors are pulling dated information from static databases.”

Ugam’s pricing intelligence solution delivers intelligent recommendations based on self-learning rules that help retailers identify opportunities to make pricing changes that align with their business. The solution’s intuitive dashboard and configurable rules logic enable retailers to create complex pricing rules in plain English based on multiple parameters, including price, margins, revenue, inventory levels, price elasticity, product categories, zones and more. Ugam also provides a library of default rules that help retailers optimize for multiple variables. Rules-based pricing actions can be automated or can trigger alerts that require additional oversight from a pricing manager, providing granular pricing control.

“True on-demand, real-time data is no easy task,” said Ugam co-founder and CIO Mihir Kittur. Pulling pricing data and consumer signals about millions of products within seconds is definitely a challenge, but this is the information that retailers need to know to remain competitive. They need to be able to see what’s happening from both a competitor and consumer standpoint in real-time and leverage historic data to take action that can positively impact their business. This is the benefit we deliver to our customers.”

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REAL ESTATE

Whole Foods to open first Fort Worth, Texas, store

BY Michael Fickes

Fort Worth, Texas — Whole Foods Market has leased a 45,000-sq.-ft. location in Waterside, the new 63-acre master-planned, mixed-use property being developed by Trademark Property Co. Slated to open in the spring of 2016, it will be Whole Foods first grocery in Fort Worth.

Located on the Trinity River, Waterside will offer retail, restaurants, office, hotel and residential uses in a walk-able setting that will include a new extension of the Trinity Trail.

Plans call of 185,000 sq. ft. of retail space and riverside restaurants, 20 to 30 acres of residential development including multi-family buildings and townhomes, 100,000 to 200,000 sq. ft. of office space and a signature hotel site.

Plans call for construction to begin this fall, with Phase I scheduled to open in the fall of next year.

Waterside is Trademark’s first “Conscious Place” project, a next-generation sustainable development model being done in partnership with Whole Foods Market.

Conscious Place plans call for a variety of amenities, many of them unique to Waterside, including an “information station” with interactive displays, as well as a designated area for community promotion, and a covered community pavilion with inspirational quotes, photos and videos. Another feature is The Grove, a one-of-a-kind outdoor space built around several existing large heritage trees, including adult and children’s play areas, and outdoor patios for restaurants, both conventional and micro-restaurants, akin to permanent food trucks.

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